Soybean prices fell to a two-month low on October 26, 2026, as supplies from a record US harvest entered the market and crude oil prices declined.
Soybean prices retreat after export-led support
The most-active Chicago Board of Trade soybean contract was down 1.2% at $12.41¼ a bushel as of 03:38 GMT, after reaching its lowest level since August 26 earlier in the session.
A Singapore-based trader said the advancing US harvest was creating seasonal pressure on soybeans and that there were few supportive factors for prices.
The decline followed a week in which strong export demand and higher crude prices supported soybeans. The US Department of Agriculture reported net US soybean export sales of 2.8 million metric tons for the week ended October 15, near the top of market estimates, as Chinese purchases boosted volumes.
Crude oil can influence agricultural markets because grains and oilseeds are used to make biofuels. Oil prices fell after surging to near six-month highs late the previous week.
Corn and wheat also fall
Corn declined 1.1% to $4.51 a bushel, while wheat slipped 0.4% to $6.22¾ a bushel. The advancing US harvest has also pressured corn, with the potential to add to already large stocks.
Wheat losses were limited by continuing disruptions to Black Sea supplies. Investment funds had sold wheat the previous week as US-led diplomacy over Russia’s war with Ukraine raised hopes of a revival in Black Sea grain trade. Attacks continued after the talks, including a drone strike that sank a cargo ship off Romania’s Black Sea coast.
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